Scott Groskreutz is an Investment Advisor Representative with Brokers International Financial Services, LLC.Brokers Financial is not an affiliated company. Opinions expressed on this program do not necessarily reflect those of Brokers Financial. The topics discussed, and opinions given are not intended to address the specific needs of any listener. SG Financial does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.

Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter. Please contact us if you wish to have formal written advice on this matter.

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside are you not? He'll treat your money right.

Speaker 2 00:00:35 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan, here to help you take charge of your money. Scott Gross Chris Scott has helped hundreds of clients achieve their financial goals over the years. Like to thank you for joining us, spending part of your weekend with us on KCS, NT, Newstalk 840. Now, the thing about Scott that you want to know, that's vitally important. The fact that he's a fiduciary, which means by law has to have the best interest of his clients. And like I said, it's a very important distinction. Now, when you meet with Scott and you chat with him, he's going to cover all the things we cover in the show each week, because these are things that are vitally important to retirees and retirees, like wealth accumulation, asset protection, long term care strategies, and so much more.

Speaker 2 00:01:18 I'd like to welcome Scott into the show. How's the weekend going so far?

Speaker 3 00:01:21 It's going great. Good morning. Good afternoon everybody.

Speaker 2 00:01:24 Yeah, terrific. It's great to have you on each week at this time Scott. All right. Let's dive into the show here. The 2020 3EBRI. And I had to look that up. I had to Google that. It's employee benefit research Institute. They had a survey retirement Retirement confidence survey should be called the The Non-confidence Survey. After this Scott was recently released. The results, to say the least, are shocking. We're going to dive into into this with a format inspired by a classic game show. Yeah, family feud. There it is. Yeah, there we go. We're going to have some fun. Scott, we're calling this, Financial Family Feud. Okay, so here it is. The same rules apply. If you're not familiar with the show, we got the top answers from various surveys from that 2023 retirement confidence survey. Now you're going to try to guess the most popular answers from the survey.

Speaker 2 00:02:19 Now, if you hear this, that means you got the top answer. Now if you hear this, that means you weren't wrong, but you didn't get the top answer. So here we go. Okay. And let's do this. You've been through all of this, so let's see. I'm confident. Scott, you got this, man. You got this. Okay, here we go. Over 1000 working American adults were surveyed about retirement. Now, the three top answers on the board of those surveys. What are the top concerns among those worried about their financial future?

Speaker 3 00:02:51 Well, I would say the number one thing it has to be people worried about if they'll have enough money to retire.

Speaker 2 00:02:57 There you go. You got it. 68%, Scott. Not having enough money to retire. That's a that's an easy one because that is really everybody's on everybody's mind. I'm going to give you the other two and and get you to comment on these. You know.

Speaker 3 00:03:09 You know what Gary? Two it really doesn't matter sometimes on how much assets you have.

Speaker 3 00:03:14 I've met clients with over 2.5 million, slotted for a retirement loan. They still have that fear because, you know, based off your expenses and what's going on in your family situation, what you want to do in retirement, it may not be enough. So, you know, regardless of whether you think you have too little or you have enough, that question in the back of your mind, maybe burning it burns for a lot of baby boomers. Yeah, it's.

Speaker 2 00:03:39 Like I said, you know, we've talked about it's not how much you have, it's how much you get to keep. number two was keeping up with the cost of living, of course, inflation 56% and managing debt levels at 45%. A pretty, pretty normal. I'd. I'd expect.

Speaker 3 00:03:54 Yeah. People want to also look at, you know, the managing debt levels big thing and, you know, paying off the mortgage. That's one thing that you can check off that list, keeping up with the cost of living with the inflationary pressures.

Speaker 3 00:04:05 What we've seen the fact that government has printed 85% of all the bills in circulation in the last few years. This is really, really an important thing in your plan to consider as you're retiring. And and you want to make sure that you're keeping up with those costs, right? So vitality costs, insurance costs, those things.

Speaker 2 00:04:25 So if I see a $20 bill from 20 years ago, it's pretty rare that that's what you're saying, right? You you know, interesting. I think keeping up with debt levels, that has really jumped up, in the last couple of years because people are putting money on their credit cards because of a cost of inflation, deflation and everything else. So let's go to our second question. You're one for one. You're killing it. All right. We surveyed almost 600 working Americans who say they're not confident about their ability to live comfortably through retirement. The top five answers are on the board. What are the top concerns? We have five of them. Scott.

Speaker 3 00:04:59 I would say with everything going on, it'd be maybe the economy or recession volatility market.

Speaker 2 00:05:07 Well, it's in there. It's definitely in there. But the number one answer little no savings unprepared. Can't afford to retire. That's 40% inflation 29% in the economy recession is up there 12%. Unemployment issues with the job and or job issues a 9% and fixed budget low or no income 8%. So what do you think?

Speaker 3 00:05:29 Well, you know, when I when I meet with clients and it is a concern, I see I just saw one last week and they really wanted to retire, but they felt completely unprepared. they were worried about collecting too early on Social Security, what those implications would be. So I definitely say, you know, people are not, retiring with a lot of guaranteed income streams and they wonder how can they continue to retire earlier and enjoy themselves? you have to have a plan in place in order to do that. And that's a major concern that people have.

Speaker 2 00:06:04 So once again, thank you for joining us. A little break here and remind you that this is Scotty G's retirement radio show.

Speaker 2 00:06:10 I'm Gary Nolan, your consumer advocate with us each week at this time, Scott Gross. Chris, in case you're just joining us, Scott has helped hundreds of clients plan for their retirement years. He's a fiduciary, which by law has to have the best interest of his clients. You really need to get on this calendar, get yourself all set up with that comprehensive plan, that holistic plan, no cost or no obligation. So what are you waiting for? Here's that phone number 702420 2554 (702) 420-2554. Or you can reach out or you can go to his website SG retired.com. All right. Let's get to another question here. We have time for maybe, two more. Let's squeeze in one at least. top six answers on the board of 1153 working Americans, who said they're not confident about their ability to live comfortably throughout retirement. What are their top concerns? I have a feeling you'll nail this one.

Speaker 3 00:07:06 I'd have to say what we just talked about. Maybe Social Security.

Speaker 2 00:07:10 There you go. And it's a big one, Scott, 88%.

Speaker 2 00:07:13 I'm going to read the other ones to you and see what you have to say about it. Workplace Retirement savings plan 84. Personal retirement savings or investment 78 Individual retirement account or an IRA 75. Work for pay. 73 of defined benefit or traditional pension plan 64%. What else do you have for us? What do you think about that?

Speaker 3 00:07:31 Yeah. You know, I think when you look at people in their individual retirement account, their IRAs, you know, they're not that confident, that they'll be able to live comfortably with that IRA because they've seen whether it's the 41K or the IRA, they've seen it go up and down, up and down.

Speaker 2 00:07:46 And sorry, I you know what that was? That was your website. That's my see, I'm actually looking at the website. I'm sorry to interrupt. Go ahead Scott.

Speaker 3 00:07:54 No. And I you know, they look at their portfolios go going up and down on, you know, the balance of the account. And they're saying if there's another market cycle continues in the wrong direction, what will they do? And if that's all they have, that's a big portion of what they would source for their income needs.

Speaker 3 00:08:14 So I can see that that's really a concern. This is why it's so important, even on the Social Security front, to make sure you're doing the right thing, considering, an IRA, because that those, you know, those dollars translate to benefits in retirement benefits and income benefits for you to pay health care expense if need be, if you have a chronic condition or or something more temporary. So whatever it is, we want to make sure that we get those dollars, towards your resource in your plan. And that actually gives you gives you benefits beyond just sitting there, with market risk. And, you know, we will also help you with that. But whatever the case is, wherever your risk tolerance is, we can really address that and make sure your plans aligned with that.

Speaker 2 00:08:59 Yeah. Like we talk about Scott each week, you know, putting the puzzle pieces together. And you know, there's definitely there's a strategy for taking Social Security just to say well okay, I'm 62 I'll take it.

Speaker 2 00:09:08 Now there's a strategy. And you got to work through the numbers and what other assets you have and put it all together, like I said. All right, time for one more. Let's squeeze in one more question. Over 2500 working and retired. America's survey. The top five answers on the board. Who do they trust most with their finances? What about this one?

Speaker 3 00:09:28 Oh, I would say this is probably has to be a financial advisor.

Speaker 2 00:09:33 Yeah. There you go. Yes, 61%. Thank goodness. Two out of three people, almost. the other answers are interesting. Family and friends at 31 online resources and, you know, kind of robo stuff at 28 and I representatives from your workplace retirement plan, 13% got another minute or so. Scott. So explain these to me and then we'll wrap up the segment.

Speaker 3 00:09:56 Yeah. We we really have to look at when you're looking for a, a professional, people look to these people because obviously we have the education necessary. And we also have not a lot of people talk about this, but, it's the experience in working with several families and what they've done over the years, what's worked for them from a psychological standpoint and from a number of standpoint.

Speaker 3 00:10:17 and so there's a lot of experience that comes when you work with me. It's not just you're paying for the education. I have. You you work with me because of the experience, that we have and and the experience that our team has collectively in your corner. So family and friends, I chalk that up to the waffle House. Wise men and wise women, they always have. Hey, what do you think about this guy? What do you think about that? You know, it's all. It's like, I can't give you a reason why right now. And just passing at the grocery store, but, you know, you know, there's several perspectives based off people's history and life, lifestyle that they will think one way or another, but that's generally not the advice you should take. take advice of someone that's in your corner that has, professional education. It's licensed properly and that is a fiduciary.

Speaker 2 00:11:08 Absolutely. All right. It's got another minute or so left. So let's you know what else you got for what can you tell our friends and listeners today Gary.

Speaker 3 00:11:15 Now is a time to really open up the phone lines. And you know, education is key. And so we've set some time away in our calendar just to meet with our listeners who want to learn about retirement. And here's what our process looks like. So it starts off with a simple phone call where we can have discuss any immediate concerns that you have. From there, we can help give some clarity surrounding one of the most vital aspects of your financial life through a free strategy, planning session, or even a second opinion review. This includes a fee analysis, a personalized and comprehensive report on your current situation, as well as proposed long term financial retirement income plan to help you reach your goals. Confidence is a powerful tool, especially approaching retirement, and we often work with folks who have saved over a million in retirement. But for you listeners that are focused on building a retirement plan, let's get connected so you can get better answers for your financial objectives. So, Gary, let's tell the folks how they can connect with us.

Speaker 2 00:12:19 That's great advice, Scott. Here's that phone number. 702420 2554 folks, no cost, no obligation to get a better handle on your financial situation. Find out what your investments are really costing you because of high fees or commissions, what future tax implications will be, and how much income you can securely generate from that. Once you do move into retirement, all starts by picking up the phone and punching those numbers in. 702420 2554 (702) 420-2554. Welcome back to the show. I am your consumer advocate, Gary Nolan. With me is Scott Gross. Chris Scott has helped hundreds of clients plan for their retirement over the years. He is a fiduciary by law, has to have the best interest of his clients. Very important distinction when you're looki

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside are you not? He'll treat your money right.

Speaker 2 00:00:37 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan. And here to help you take charge of your money is Scott Gross. Chris Scott has helped hundreds of clients achieve their financial retirement goals over the years. He's a fiduciary, which means by law has to have the best interest of his clients. Very important distinction when you are looking for a financial advisor and all the things we talk about on the show here each week are the things that you and Scott are going to be chatting with when you meet with him, because these are things that are on your mind as a retiree or pre retiree, maybe in that retirement red zone. We talk about tax minimisation strategies, long term care strategies, life insurance, asset protection and wealth accumulation.

Speaker 2 00:01:16 Scott, welcome in. I hope you're having a good weekend so far.

Speaker 3 00:01:21 I'm having a great weekend. Hope everybody's having a great weekend as well. Or your listeners.

Speaker 2 00:01:25 All right. I say this every week, Scott, but this week I really mean it. We got a great show. Okay. You ready? Here we go. cash flow and retirement is critical factor. Now we have some key considerations for understanding the importance of cash flow in retirement. So we're going to roll through these and see what Scott has to say about each of these. Let's start out with the usually the number one thing when it comes to cash flow is income sources.

Speaker 3 00:01:48 Oh, absolutely. So I just met with the client last week. They had over $2.5 million in liquid assets, and when we looked at their budget, they were spending about 22 grand a month. Can you believe that, Gary? My gosh, Gosh.

Speaker 2 00:02:05 I couldn't. I couldn't spend that if I tried. Well, maybe if I tried real hard, I might.

Speaker 3 00:02:08 Well, you know, his wife was on some dietary supplements and a special dietary meal plan that she was on. They had several other expenses that just kept on adding and adding. And now they're at Retirement's door, and they have to figure out, okay, is this enough? And when we look at their income plan, they didn't have the income for their spend. And here we were in this office talking about what they needed to do. And one question came out was, can we buy an RV? And so, you know, and I'm not poking fun at them. No, what I'm saying is, is, you know, the foundational elements of retirement is really budgeting it. You know, we budget when we work because we're getting the income and we need a budget, right? When we're in retirement and income sources, it's not going to change. It's not going to be as volatile as it was maybe when you were working and doing a side hustle. So you have to start at what income is coming in versus going out.

Speaker 3 00:03:08 And it's never a good feeling when more is coming out than coming in. Now, I don't.

Speaker 2 00:03:12 Know enough about this, but that's a basic strategy if you ask me, don't you think?

Speaker 3 00:03:17 Exactly. So it's expenses. It's, you know, and then you have to count for things that change with health care and your Medicare plan. It has gaps in it. It doesn't cover things like long term care. So when you really look at expenses and what your budget and your investment strategy, you know, a budget shouldn't be a naughty word. Sometimes I, I don't like the feeling of what? Yeah. When I say that word.

Speaker 2 00:03:41 My wife hates that word too. Yeah.

Speaker 3 00:03:43 And what it is really, it's, It's a goal plan, right? Yeah. And it's just a goal plan that's more narrow down on a daily or monthly target. And so think of it as more of a goal plan. You know, start with the things in your budget strategy that are the enjoyable things like budgeting for vacation, budgeting.

Speaker 3 00:04:05 Go see family budgeting for a trip, whatever it is. Baby budgeting for, you know, the the yoga expense first or whatever it is, or your Zumba class. Start there with fun that will help motivate you to make sure that you're getting your enjoyment in retirement each, each time. And so, you know, once you create it, you kind of just put it on repeat with the exception of those things that come up.

Speaker 2 00:04:27 Yeah. And yeah, don't forget to put your mortgage in there and your food and cost prices too. But I heard I can't recall where I heard this, but I heard that, a lot of folks who have millions, they have as many as seven different income streams, income coming in from all different sources of, of their investments at one time, you know.

Speaker 3 00:04:45 Right. And that's where it becomes more of a coordinated effort. And when when I sit down with people, like you're saying, Gary, that have several different income streams. I usually get a big sigh because it really gets complicated.

Speaker 3 00:04:58 You know, the last 20 or 30 years of their working life, they realize, looks a lot different than the next 20 or 30 years of their retirement life. And that's where our team provides value to those that are in retirement, to make sure that we can take some of the weight off their shoulders to help them make the best decisions possible.

Speaker 2 00:05:22 I want to take a moment to remind you the show is Scotty G's retirement radio. I'm Gary Nolan, your consumer advocate. With me each week at this time is Scott Grosskreutz. I want you to get on his calendar, get yourself all set up by that comprehensive plan, that holistic plan. Here's the good news. There's no cost to no obligations. So what are you waiting for? 702420 2554 702420 2554. Do it right now. Why are you thinking about it? All right, so we're going through cash flow. And you know, after you go through the income and the expenses, kind of put the balance sheet together and do the budgeting or I call it a spending plan, I like that better.

Speaker 2 00:05:58 how about investment strategy. That's up next.

Speaker 3 00:06:01 Yeah. You know, investment strategy can really impact your cash flow in retirement. You may have investments that generate regular income, such as dividends, interest or rental properties. But really diversifying your investments can help manage risk and provide a steady stream of income to support your retirement cash flow needs.

Speaker 2 00:06:22 Now you really need a plan. Scott, I'm all right. Having a bunch of statements is is not a plan. And you know, diversification is not owning ten different stocks as am I, right?

Speaker 3 00:06:31 Absolutely. Yeah. And and you know, at SG financial what we do with our clients is we really love simple, straightforward fundamental planning. And so when you meet with us, we do a one page plan for your retirement. Can you imagine that.

Speaker 2 00:06:48 One page on.

Speaker 3 00:06:48 One page. And it's really it's a really it's really just a summary that has everything that your plan has. And then of course, there's a lot of details with other supplemental materials, just as a as a guide for you, but one page to have everything on one pages.

Speaker 3 00:07:07 What is this account doing. Why is it doing it. What are your risks? How are we addressing it? All of these things you can see, you know, on your one page plan.

Speaker 2 00:07:16 Well, that's good because I have a short attention span scout, so it'll be perfect for me. here's the thing to, longevity. We're living a lot longer these days.

Speaker 3 00:07:25 Yeah. You know, life expectancy plays a crucial role in managing cash flow and retirement. Living longer means your retirement savings will need to last much longer. And you need a plan for potential health care costs associated with aging. you know, our bodies with modern medicine are lasting a lot longer, but where medical technology and, you know, studies and all these things where we've tried to catch up to is the brain activity. And so often people struggle with things like Alzheimer's, dementia. And that's something that is still, in its infant stages on really addressing those illnesses. So making sure that if you do have a plan that you have a plan for, in case those things are to happen in terms of health care risk, because oftentimes those types of critical illnesses, which is actually more prevalent than we would like, will affect your spending and the cost of care goes up significantly.

Speaker 3 00:08:22 And, Gary, remember, long term care is not covered by our Medicare plan.

Speaker 2 00:08:28 Hey, how much of a factor is longevity when you're trying to figure out when to turn on Social Security.

Speaker 3 00:08:33 Well absolutely. You know it's a real huge factor. You know longevity we always take into account when we do our risk tolerance. And we go through your life expectancy based off of the life expectancy maybe of your parents. It's a it's an estimate. But we take this into account when we look at your Social Security benefits. And we want to make sure that you're getting the most out of the Social Security plan, and it's critical to understand what are the best times to claim considering your asset mix as well, that may provide you income in the future. So all of these things are taking into account when, on our first consultation, we get your information and then by your second consultation, you will have a 30 page report. You don't need all 30, but the first couple pages will really go through three plans that would best suit for or recommend for you that you can go and pick.

Speaker 3 00:09:29 And we can talk about what are the pros and cons that claiming those times. And you can see the difference in your lifetime income benefit. And it's staggering. Gary, when I do these exercises with the clients that I serve and we, you know, chart a course forward on based off those, those times are the ages that you claim for your Social Security.

Speaker 2 00:09:51 All right. Great stuff. Scott, of course, we're almost running out of time in this segment. So what else can you do to wrap up this segment for us?

Speaker 3 00:09:57 Well, you know, there's a lot of puzzle pieces as we just talked about. We spend a great deal of time talking about budgeting and these topics with our clients, and we have kept a few openings in our calendar for a free review. For anyone who has more questions about how this might be affecting your retirement. So give us a call and we'll chat with you personally to try to answer any questions you have. From there, we'll talk through all the different puzzle pieces that you need to consider in your plan.

Speaker 3 00:10:25 For instance, Social Security. You know, what age should you start taking that benefit? Social security is just going to tell you. The administration will tell you, okay, these are your options, but not really explore the best ones for you. And then what about fees that you're paying on your existing portfolio and your current plan or income plan? Do you have an income plan in place? Make sure that you don't end up running out of money in retirement. Or maybe it's inflation. We're all seeing some inflationary pressure on our cash and address inflationary pressure for future decades, as a cost of everything continue to rise is really important. So there's a lot that goes into our planning for retirement. So if you're managing your retirement plan by yourself, or if you're now realizing that your current advisor hasn't been helping you the way you'd like with all these issues, this is your chance to get a true comprehensive plan in place.

Speaker 2 00:11:13 Now, there's some great advice, Scott. We are proud to be shedding light on a number of topics we see folks struggling with, or maybe even being taken advantage of as they prepare for a move in retirement.

Speaker 2 00:11:23 You want to get that complimentary roadmap? We've been talking about it. Put it all together, all while you make sure you walk away from the conversation with clarity and understanding. It starts with the phone number and here it is. 702420 2554 (702) 420-2554. Do it now while you're thinking about it or you go to their website.

Speaker UU 00:11:42 It's retired.com. Welcome back to the show.

Speaker 2 00:11:56 This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan, here to help you take charge of your money. Back with us, Scott Grosskreutz Scott has helped hundreds of clients achieve their financial retirement goals over the years. He's with SG financial and I mentioned this because it is so vitally important when you're looking for a financial advisor, is that he is a fiduciary by law, has to have the best interest of his clients and the things we speak about each week on the show, the things you want to get together and talk it over with Scott, like wealth accumulation, asset protection, life insurance and so much more. All right, understanding what makes us tick financially can be complex and confusing.

Speaker 2 00:12:32 We're going to take a look at several areas of behavioral finance, and how the right advisor can help us on the right path. Now, I'm not a psychologist, Scott, but I stayed at a Holiday Inn Express last night, so I'm good, you know? So I got this. I got this all figured out. No. Not really. Honestly, reading this segment of it, this is, fascinating to me because I didn't know a lot about it. But you guys talk about this all the time, don't you?

Speaker 3 00:12:54 Well, you know, behavioral finance is just as important to consider when you're

Speaker 1 00:00:00 Thr

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside. are you know he'll treat you money, right.

Speaker 2 00:00:36 Welcome to the show. This is Scotty G's retirement radio. I am your consumer advocate, Gary Nolan. And here to help you take charge of your money is Scott Grosskreutz. Scott has helped hundreds of clients achieve their financial retirement goals. A little bit about Scott. He's a fiduciary, which means by law has to have the best interest of his clients. And when you go see Scott and spend some time with him, he's going to talk to you about all the things you hear on the show each week, because we know this is on your mind. Retirees and retirees, wealth accumulation, asset protection, long term care strategies, and so much more. So we'd like to welcome Scott in. Thank you for joining us Sunday afternoon on an XT news radio.

Speaker 2 00:01:16 840. How's your weekend going so far, Scott?

Speaker 3 00:01:18 Great. How are you doing, Gary? Good for our listeners on a Sunday afternoon. Thanks for tuning in.

Speaker 2 00:01:23 Yeah, we're just having a couple of conversations here that we'll do throughout the afternoon to the next hour or so and keep you informed about what's on your mind. So we're going to start out with this now two retirement troops and Allied going to find out which one that you think you know or don't know when it comes to planning for your retirement. All right. I'm going to start with this one Scott. So I'm going to read these to you. You tell me which is the lie. And here we go. I can depend solely on Social Security benefits to pay for my living expenses when retired. It's never too early to start saving for retirement. I don't need help with my plan. I can use an app for free and get the same information. I think I know the lie on this one.

Speaker 3 00:02:04 Yeah, yeah, that's a lot of reliance on the app for free

Speaker 3 00:02:08 Nothing's for free. Right, Gary

Speaker 2 00:02:10 Oh, no. There's no such thing as a free lunch, they say. Right?

Speaker 3 00:02:12 Yeah. So that's a lie. Robo advisors can do, some help for you in terms of retirement planning, but you should really sit down with a professional when planning something that's as important as your retirement portfolio. And also, you know, there's a lot of other factors and not any one to retirement is the same. So sitting down with somebody can really help you. look at your income benefits and growth in the market, all those thing

Speaker 2 00:02:42 Yeah. Especially like when it gets to disbursement that because that can get incredibly complicated as to what accounts to draw down and everything else. It's not a do it yourself kind of situation. I, you know, maybe if you're you're you're 25 and you want to start a little accumulation, that's okay. But particularly when you get into really those retirement red zones, that's when you really want to stay away from something like that. Let's get to the next one.

Speaker 2 00:03:04 Two truths and a lie. Medicare is free and I don't need to pay for anything related health care once I enroll. Medicare does not cover all my medical expenses. You'll spend more money when you retire because of higher medical costs, which is.

Speaker 3 00:03:19 Ooh, that's a good one.

Speaker 2 00:03:21 Yeah, that's a good one.

Speaker 3 00:03:22 Yeah. The lie is Medicare may not cost money upon enrollment, but health care costs can still be high in retirement. it may not cost. And there's certain Medicare aspects there. Obviously your part A is automatic, but your part B does take money out of your Social Security check. So you know there's a cost involved there, and you want to make sure you have the right coverage. At SG financial. We can go through that and look at your drugs, doctors, co-pays, all those things in our review and make sure that your coverage doesn't have any gaps in it, whether it's a supplement or an advantage plan.

Speaker 2 00:03:57 Yeah, absolutely. It's so it's so important to go through that because these things could be, you know, we talk about health care all the time on the show and how expensive it can be.

Speaker 2 00:04:05 All right, let's get the next one, Scott. Here we go. I'm always going to be comfortable with the risk level I'm at. Emergency savings is different from borrowing from my 401 K, and it's never too early to begin planning for retirement.

Speaker 3 00:04:22 The lie is that risk tolerance really is basically an assessment of the amount of loss and investors prepared to handle while making investment decisions. So you should be revisiting conversations about your risk tolerance and financial advisor upon big life changes. it's really important to do that, and have that risk tolerance assessed. And also as you near that leap into retirement because we're transitioning to a different lifestyle. So all of these things are really important, and you may be comfortable with the risk level you're at, but you may not even know what your risk level is. And most people, when I ask them the follow up question, they struggle with that. So going through a risk assessment with not just concerning your market assets but every asset that you have. We found this out with the banks right Gary.

Speaker 3 00:05:14 So right. Yeah. We have to make sure that that that it's within the threshold, within the allocation. The income allocation. Only the asset allocation is really important to look at in terms of your risk.

Speaker 2 00:05:25 Right. What's your thoughts on the rule of 100? It's still that a valid rule of thumb so to speak.

Speaker 3 00:05:30 Yeah. In general it could be I know this is what, you know, a lot of insurance agents point to when looking at assets in and out of the market. But what we have to take into account is what is the income need? You know, the income needs greater than it may be more than what the rule of 100 is. and some people just are more aggressive. They don't like, the metered down returns of some more fixed solutions. And so it really depends on your risk tolerance. I think the rule of 100 is good when you're considering other equations with your retirement portfolio, things that we go through in our visit together. Right.

Speaker 2 00:06:06 And in case our listeners don't know what that is, is you take the you take 100 and you subtract your age.

Speaker 2 00:06:11 Let's say you're 60. That means you should have 40% at risk. So that's basically it. But you know, and Scott will talk to you about that in greater detail when you come see him. That's why I invite you to do that right now.

Speaker 3 00:06:23 Well, Gary two, you know, that equation is really beneficial. But sometimes when I tell people, well, that's the amount you should have out of the market and they find out, you know, what is the expected, the reasonable growth, they either may not be happy with that or they might be happy with it. Right. Or they might say that they want more. And then we look at plans to do that. So really it's just based off the type of person, the experience. You may look at, you know, your history, maybe you had experienced 2008 hit to your ass, right? Yeah. And so you are more conservative. So we really want to nail that down. And these are just measurements, right? It's not the be all, end all.

Speaker 2 00:07:03 Want to take a moment, remind you the show is Scotty G's retirement radio. I'm Gary Nolan, your consumer advocate. With me each week at this time is Scott Grosskreutz. I want you to get on his calendar, get yourself all set up by that comprehensive plan, that holistic plan. Here's the good news. There's no cost to no obligations. So what are you waiting for? 702420 2554 702 42 zero 2554 do it right now. Why are you thinking about it? Okay, we're doing two truths and a lie. Let's see if we got time for 1 or 2 more. All right. Diversification and asset allocation are essentially the same thing. I should update my retirement plan periodically. and retirement planning has both emotional and financial components. All right, I think I know the lie. What's the lie here, Scott?

Speaker 3 00:07:48 The lie is the first one. Right. So asset allocation is the foundation. And diversification really builds room of rooms for the blueprint. You're really looking at, as you consider what your financial plan will look like.

Speaker 3 00:08:04 now while they are symbiotic, they are not the same thing. You know, asset allocation involves directly dividing your assets among the different asset categories like stocks, bonds, and cash. Diversification involves spreading your investments both among and within different asset classes. Right. So, you want to make sure that with assets in the market, you're properly diversified. But you know, Gary, too much of one good thing also is a recipe for disaster. I just met with the client a month ago who is doing a DIY plan in her portfolio. She had more than 300 different diversification assets in the portfolio. Now that's too much diversification. So yeah, and so it wasn't really efficient And, you know, creating a plan in place. Make sure we make sure you're not doing one thing for the end result. Because oftentimes the benefits are far under, what you're trying to avoid. Yeah. And, we look at these things, right. And make sure that you're making the best judgments about having your safety spread across all those areas.

Speaker 2 00:09:18 Yeah, and that's why folks need to come see you. Scott, this has been great information. What else can you tell us?

Speaker 3 00:09:22 You know, listen, Gary and radio listeners, those listening in today, we really keep a few openings on our calendars for listeners to sit down at no cost, no obligation, consultation or second opinion review to help you put you on that right path for your retirement future. This consultation will help you determine how prepared your portfolio is to handle dangers like inflation, stock market volatility, and taxation. You've worked hard for your money and will continue to work just as hard to help you protect and grow it. Keep in mind, our strategies are often used by folks with over 1 million saved for retirement. But we will not turn you away. And if you're serious about retirement, planning, we'll do this for you. So for the next ten callers who have saved at least 200,000 or more save for retirement, you'll get the fact based approach that you deserve and get better answers to your financial challenges and objectives.

Speaker 3 00:10:21 And if you call right now, you'll get a copy of our latest educational resource. Five keys to a Successful Retirement When You Come in. This report is invaluable and the knowledge inside could save you thousands in retirement.

Speaker 2 00:10:33 That's great advice, Scott. Here's that phone number. 702420 2554 folks, no cost, no obligation to get a better handle on your financial situation. Find out what your investments are really costing you because of high fees or commissions, what future tax implications will be, and how much income you can securely generate from that once Once you do move into retirement, all starts by picking up the phone and punching those numbers in. 702420 2554 (702) 420-2554. Welcome back to the show. This is Scotty G's retirement radio. I am your consumer advocate, Gary Nolan. And here to help you take charge of your money, Scott Grosskreutz Scott has helped hundreds of clients achieve their financial retirement goals. We're having a great conversation here on a Sunday afternoon on next NewsRadio 840 going through all the things that are on retirees mind and pre retirees mind, like tax minimisation strategies, long term care strategies, life insurance, asset protection, wealth accumulation, all the things that you want to talk to Scott about when you get Ahold of them, give that phone number for you in just a little bit.

Speaker 2 00:11:52 And what else did I have to tell you? I don't know, let's get into the show. Let's get into the segment two of the show. All right. So the answers to retirement questions that start with word when depend on a variety of factors, including your individual financial situation, personal preferences too. Now here are some common when questions and potential answers. And I believe Scott this this has to be the biggest win that you get when oh.

Speaker 3 00:12:17 Heck yeah.

Speaker 2 00:12:18 Yeah. When should I start taking Social Security? That's a big one.

Speaker 3 00:12:21 Oh well, you can start receiving Social Security retirement benefits as early as age 62, but your benefits will be reduced if you start before your full retirement age, which is currently 66 or 67. So depending on your birth year, delaying Social Security benefits until age 70 can result in higher monthly benefit payments. Now, there is no annuity like Social Security, which is technically an annuity. Gary. Oh yeah. And so you when you delay this, you'll get the best delay possible you can possibly get from any other annuity has the best adjustment.

Speaker 3 00:12:59 You can get cost of living adjustment. So when you come and sit down with our team, you will get a Social Security strategy that outlines the options for you to claim on Social Security, tells you even when you should file for it. And we look at these options for you considering your other assets that you have in retirement, whether it's an IRA for one or other annuities. And we create a plan, an income plan that is safe that you can rely on for your basic necessities. This is all something that we do with all of our potential clients and existing clients having this review. And it's something that the Social Security Administration will not give you in terms of looking at your full asset picture. This is why it's important to me, with us.

Speaker 2 00:13:46 Yeah. I mean, you can get the

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside. Are you gonna help treat your money right?

Speaker 2 00:00:36 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan, here to help you take charge of your money. Scott Gross Chris Scott has helped hundreds of clients achieve their financial retirement goals over the years. Scott is a fiduciary, which means by law has to have the best interest of his clients. And the things we talk about here on the radio and the things you meet with Scott when you meet with Scott, these are the things you'll be discussing. It's wealth accumulation, asset protection, life insurance, long term care strategies. So thank you for joining us on a Sunday afternoon at XT News Radio. 840. Scott, how's your weekend going so far?

Speaker 3 00:01:12 It's going great. Beautiful day here. Yeah, in Henderson, Nevada.

Speaker 2 00:01:16 Absolutely. So, let's get into the show. This is a this this one's a little different to our I applaud our show writers coming up with something different each week. So, you know, we spend a lifetime preparing for retirement or do we now we sent our coworker, one of our other show host, Dave Perkins, to the streets, ask people about their plans for retirement now, retirement preparedness. According to a survey by Transamerica Center for Retirement Studies, only 17% of workers are confident that they'll have enough money to retire comfortably, and 56% of workers plan to work past 65 not to retire at all. So I'm going to play a clip. This is from interviews out on the street with Dave, and we'll get your comments on the other side. See if this is typical or not typical. When you talk to folks, Scott.

Speaker 4 00:02:00 That's a pretty comprehensive plan that takes into account, all of our assets, real estate, everything.

Speaker 5 00:02:07 I'm going to work as long as I can, and then I'm going to enjoy my grandchildren and great grandchildren.

Speaker 5 00:02:15 That's my plan.

Speaker 6 00:02:17 I've got rental properties and stock account savings bonds.

Speaker 7 00:02:23 we are saving money out of our monthly paycheck and trying to slowly start building up a savings.

Speaker 2 00:02:32 There you go. Pretty typical. Not typical things you hear every day when you're meeting with folks.

Speaker 3 00:02:37 Really typical. I think depending on the client and what they feel comfortable with, their real house is whether it's real estate, whether it's retirement account stocks, bonds, mutual funds, whatever it be. they have a strategy in mind that they want to, work according to. And, you know, for some, it it will work, as expected. For others, it just doesn't. And, you know, one of the, one of the responders there talked about, you know, saving a little bit here and there and, and and contributing here and there. And so you got to forecast those things out, make sure that it's in your plan that you're designing these things. it's okay to get rental income, but if it's the sole, you know, way you're getting income in retirement, that also has its disadvantages as well.

Speaker 3 00:03:27 So a well-rounded, diversified approach to your income, will really help you.

Speaker 2 00:03:33 Right. And probably lumped all those folks together. It would make the the best response. And one lady, you know, talked about her kids and her grandkids, but she really didn't talk about, you know, having having a plan. So like I said, these are all the kind of responses you get when you meet with folks on the street or when they come in your office. It varies by a wide degree. All right. Here's that bad word for somebody. Some people annuities when it comes to annuities. Everybody has an opinion. Here's this guy's opinion.

Speaker 8 00:03:58 What are your thoughts on annuities I don't like him. Why why do you not like them?

Speaker 6 00:04:04 Well, annuities tend to pay the broker or the salesperson a lot of money. And anything that pays a big commission is not generally good for the client.

Speaker 2 00:04:16 Kind of a narrow view of annuities, but that's what a lot of folks thinks when they they don't hear about the different types of annuities.

Speaker 2 00:04:23 Am I right, Scott? Is that what you get a lot, too?

Speaker 3 00:04:26 Yeah. You know, it's it sounds like to me his concern is the fact that the the advisor or the agents getting compensated up front to complete that annuity for the client and anything that has large commissions generally, he's saying doesn't really benefit the client per se. And what I would just say to that is, you know, when you do a job, right, would you prefer to get paid, spread out year after year, year after year? Or would you rather be paid when you do those services? Right. And so it's the same thing with retirement professionals. Right? Is. And so you look at these things and you say, well, what type how do you want the interaction to be in terms of the fee structure. Is one fee structure better than the other? Well, I don't know if that's the truth there because, you know, there's a lot of fees that, advisors collect from having brokerage accounts.

Speaker 3 00:05:23 I know this because I do them right? Right. And so over time, the collection of fees can be much greater. And it's not up front. So the the the thought process for people that really don't understand, what goes into planning. And, when you're meeting with an advisor and you need to understand what their model is and how they they do fees with their clients and, and what the fees are paid and the compensation for services renders what rendered what those are understanding those things, you can help formulate a plan. And what I would say is like there is no fee structures that's better than the other, whether you get it up front or whether you get it over time, it depends on what solution do you need in retirement? And of course, fees generally, if they're far in excess, what you're getting from them are never good. But it doesn't mean fees are bad. Right. And so you have to look at the full picture there. And it sounds like maybe someone that works, you know, as an advisor and their brokerage account is telling them that.

Speaker 3 00:06:31 Sure. You know, but there's even within a brokerage account, there's upfront fees that you pay before your money is even invested. So there's a lot of specifics that if people really pulled back the curtain, they would really understand how it all works, is what we do during our strategy session. SG Financial Yeah.

Speaker 2 00:06:48 And he might be talking. We can't say for sure. He might be talking about variable annuities because we know there are higher fees connected with that. The other thing I'll point I want to make, Scott, is that you being a fiduciary, you have to be completely transparent. So not like folks are going to go in blind not knowing what their fees and what the fee structure is and how it works with you right off the bat. So that's one of the things that Scott and his team will definitely do. I want to take a moment to remind you the show is Scotty G's retirement radio. I'm Gary Nolan, your consumer advocate. With me each week at this time is Scott Grosskreutz.

Speaker 2 00:07:19 I want you to get on his calendar, get yourself all set up by that comprehensive plan, that holistic plan. Here's the good news there's no cost to no obligations. So what are you waiting for? 702420 2554 702 42 zero 2554 do it right now while you're thinking about it. I'm going to play the third clip for you. This is interesting. This is a young person who definitely has it going on. Let's hear it.

Speaker 8 00:07:42 Now. You're probably a long ways away from retirement, but do you think about it? Is that kind of.

Speaker 9 00:07:47 Yeah. I mean, of course, I mean, I do have a retirement plan set up. Of course.

Speaker 8 00:07:52 Do you, are you aggressively contribute to that or how have you got that set up?

Speaker 9 00:07:57 Well, I do, 300 a month.

Speaker 8 00:07:59 So you're actually thinking about retirement, then?

Speaker 9 00:08:02 Yeah. I mean, I can't work all my life, and these bones don't hurt that work.

Speaker 8 00:08:08 Do you worry about Social Security being there for you?

Speaker 9 00:08:11 Yeah, because they're using Social Security for other needs.

Speaker 9 00:08:14 That's not supposed to be meant for that.

Speaker 2 00:08:15 So there you go. And articulate young lady who's already thinking about retirement from, I'm guessing from the way she sounds. She has decades to go, but I think she's off to a good start. At least she's.

Speaker 3 00:08:25 Got her stuff together. I love it. Yeah. That's great. Yeah.

Speaker 2 00:08:28 What else?

Speaker 3 00:08:29 Contribution rates to these retirement accounts. It's really what's critical. It's not a rate of return. It's that you're doing things consistently over time. I just had an educational event. We talked about this. Some of the highest type of industry jobs, people that, when they retire that have over a million saved for retirement are engineers, right? People don't think about that. Well, why will they do things over and over again? They test everything they do. They model it out, and they make sure that what they're doing makes sense and that the the math and science behind retirement is working in their favor. And so she's figured it out that if she she it doesn't matter what she contributes, it matters that she's contributing consistently year after year to build her retirement nest egg.

Speaker 2 00:09:20 You know, it's funny, I heard her a lot about engineers, too, when I talked to folks too. They come in with spreadsheets. They open up like five, ten feet long. You know, every everything you ever wanted to know. But they're but they're prepared. That's that's true. And, you know, the things we were discussing here on the show show today are, you know, vitally important to retirees and retirees and wish we had more time to go through some of this stuff. But that's why you got to meet with Scott. Because he'll take as much time as you need to go through these issues with.

Speaker 3 00:09:47 Let me tell you to Gary, you know, on the engineer side, right? I meet with these people, but they do have a lot figured out. But they also know when they don't know things. Right? Right. And they're used to outsourcing, working with different departments that have that expertise. And so I work with a lot of people in that situation where they know there's things that they do know and they want to rely on, but there's also things they don't know, right? And that's where it's really important to me.

Speaker 3 00:10:14 We meet with an advisor. It's not just enough to throw 200 and $300 in an IRA. You gotta know what how to grow that in a responsible way towards your retirement goals.

Speaker 2 00:10:25 Yeah, absolutely. So take a moment and tell our listeners what you'll do for them. Scott.

Speaker 3 00:10:28 You know, if what we're talking about has struck a chord and you want to be certain you're on the right path with your own plan, give us a call. We keep a few openings on our calendar each week just for our listeners. So for the next ten callers who call us right now with at least $200,000 in their retirement accounts, we'll sit down as a fiduciary advisor and make sure you understand where you're at and all the options you have, so that you can make the best decisions for yourself moving forward. Throughout our years of serving our community, we found that a lot of folks don't have a true understanding of these three things one. They don't know how much they're paying in fees and commissions to. They don't know how much unnecessary risk they're taking with their nest eggs.

Speaker 3 00:11:13 And three, they don't understand the tax implications of the retirement savings. So for the next ten callers, we'll sit down with you and help you understand how each of those issues is impacting you and your family. We may even answer questions that you didn't know or needed to be asked, and if you call right now, you will also get a copy of our latest educational resource, Five keys to a Successful Retirement When You Come In. This report is invaluable and the knowledge inside can save you thousands in retirement.

Speaker 2 00:11:44 Now there's some great advice, Scott. We are proud to be shedding light on a number of topics we see folks struggling with, or maybe even being taken advantage of as they prepare for a move in retirement. You want to get that complimentary roadmap? We've been talking about it. Put it all together, all while you make sure you walk away from the conversation with clarity and understanding. It starts with the phone number and here it is. 702420 2554 (702) 420-2554. Do it now while you're thinking about it or you go to their website.

Speaker 2 00:12:13 It's SG retired.com. Welcome back to the show. This is Scotty G's retirement radio. I am your consumer advocate Gary Nolan here to help you take charge of your money back with us on this Sunday afternoon. And Scott Gross. Gross. Scott has helped hundreds of clients achieve their retirement goals over the years. Thank you for spending part of your weekend with us on KSNT Radio News radio 840. All right. So we have some strategies that can help you provide regular dependable income in retirement. You know, Scott and I talked off the air. W

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside are you not? He'll treat your money right.

Speaker 2 00:00:36 Hi there. Welcome to the show. This is Scotty G's retirement radio. I am your consumer advocate, Gary Nolan, here to help you take charge of your money as Scott Grosskreutz. Scott is with us every week at this time. Like to thank you for joining us on a Sunday afternoon at NT News Radio. 840. A little bit about Scott. He's a fiduciary, which means by law, he has to have the best interests of his clients. And when you go see Scott and his team, they're going to cover all the things we cover each week in the show, like wealth accumulation, asset protection, long term care strategies, and so much more. Scott, how are we doing today? Welcome in.

Speaker 3 00:01:11 Good afternoon Gary.

Speaker 3 00:01:12 Good afternoon, our listeners. It's great to be with you.

Speaker 2 00:01:15 Yeah. Great to great to have you with us. no. Now, this is an interesting segment that our show writers put together. And this is going to be a lot of fun. Now, Hollywood isn't exactly known for preparing us for life in the real world. Every number seems to begin with, KL 5 or 5, five, five. And oftentimes the most beloved characters are pretty unrelatable. Now, while the big screen wasn't created with attention to offer financial guidance to listeners and our audiences, there's a lot of lessons we can learn from what to do and perhaps more importantly, what not to do. That being said, we have some famous movie quotes all lined up. I'm going to put you to the test here, Scott, and see how these clips relate to the real world of finance. All right, you ready? These are all famous. You're going to know every one of these. Here's the first one.

Speaker 4 00:01:57 I am not a destroyer of companies.

Speaker 4 00:02:00 I am a liberator of them. The point is, ladies and gentlemen, that greed, for lack of a better word, is good.

Speaker 2 00:02:07 There you go. Oliver Stone movie, 1987. Wall Street Gordon Gekko, played by Michael Douglas, delivered that speech in the movie. So what do you think, Scott? Is greed good or bad?

Speaker 3 00:02:17 Well, unfortunately, when viewed in the context of trading, greed has proven to be more of a hindrance more often than assisting traders. So, you know, greed can often turn good trades to bad ones and vice versa. You know, you want to put aside a get rich quick mentality in looking at assets in in the market.

Speaker 2 00:02:38 Yeah, of course that movie did not portray Wall Street in a in a really good light in Gordon Gekko as well. All right. Let's get to the second one. You're gonna love this one. This is from a pretty good comedy.

Speaker 5 00:02:46 I got in early on some wireless IPOs and the stuff just skyrocketed from there. What about you, Greg? What line of work are you in? I'm in healthcare.

Speaker 5 00:02:54 Yeah, so you know what I'm talking about. There are a lot of Benjamins to be made right now with the biotech stuff. I don't have to tell you that. How's your portfolio? I'd say strong to quite strong. Yeah, yeah. Strike while the iron is hot.

Speaker 2 00:03:07 I love that. That is from Meet the Parents. Now, the scene is Kevin, played by Owen Wilson and Greg by Ben Stiller. They're discussing their portfolios. You know what? It reminds me of? These guys hanging around the watercooler talking about, you know, their portfolios. And the interesting thing here is you can tell Ben Stiller's covering. He has no idea. And Owen Wilson is trying to show off. What do you think? What do you think of this clip?

Speaker 3 00:03:26 Yeah. Gary, with my clients, I call these people the waffle House Wiseman. I love that, you know, these are the same people that tell my clients to just claim Social Security, you know, before it runs out, right? Yeah.

Speaker 3 00:03:40 You know, like, just with that. Social security retirees lose $3.4 trillion by claiming too early. So, it just it just the same goes for market portfolios. Unless, you think your waffle House wiseman is is the one you should go with. You really shouldn't just, free willy nilly accept, the advice of a neighbor and looking at it. you know, it's it's what we do here at SG financial is we have a team that's educated that looks at these things every day. We don't expect you to be the waffle House wiseman, but we have people that are educated that have the right licensing, who really look out the best interest for their clients on what assets they need to go with.

Speaker 2 00:04:26 You know, they should put up a sign on the door, you know, great for waffles, not great for financial advice, however. Right. Okay. All right. Here's the third clip. A very famous movie.

Speaker 6 00:04:34 Nobody. I don't care if you're Warren Buffett or if you're Jimmy Buffett. Nobody knows if the stock is going to go up, down, sideways or in circles, at least of all stockbrokers.

Speaker 2 00:04:43 Jimmy Buffett, Warren Buffett, the Wolf of Wall Street. All right, all right, all right. Matthew McConaughey, what do you think about his line there?

Speaker 3 00:04:50 Yeah. You know, this is why asset allocation and risk tolerance are such important topics to discuss with a financial advisor. Yeah. You know, investing largely in stocks opens you up to a great deal of risk. Unfortunately, with that comes with a limited opportunity to accurately forecast and track potential long term viability of said stocks. So you have to be careful about that.

Speaker 2 00:05:10 Thank you for joining us. The show is Scotty G's retirement radio. I'm Gary Nolan, your consumer expert with me, Scott Grosskreutz with us each week at this time, I want to give you the phone number, get on this calendar, get yourself all set up with that comprehensive plan. No cost or no obligation. Here it is 702420 2554 (702) 420-2554 or you can go to SG retired.com. All right let's get into the next one.

Speaker 7 00:05:40 We borrowed few bucks, just a small loan.

Speaker 7 00:05:42 Can we find ourselves some reasonable lodgings? Good plan. And we'll keep track of all the money we spend with IOUs. We'll be meticulous, right down to the last penny. Whatever we borrow, we pay back. We're good for it. This is the hotel.

Speaker 8 00:05:52 Presidential suite, normally reserved for royalty. We'll take it.

Speaker 2 00:05:56 Are one of my favorite comedies. Dumb and dumber, Jim Carrey, Jeff Daniels discussing a small loan from the briefcase. And if you remember that movie, remember all the IOUs when at the end when they opened it up? Remember that movie? Pretty good stuff. What do you think? Yeah. So what do you think about this comment?

Speaker 3 00:06:15 You know, of course, the title of the film speaks for itself. But folks make this mistake all the time when borrowing money from their savings accounts or taking out a loan, failing to live within your means, you know, as a retiree or a retiree can be devastating when all is said and done. many folks don't know about the penalties associated with borrowing against retirement accounts.

Speaker 3 00:06:36 It's important to understand that you can't borrow against tomorrow.

Speaker 2 00:06:42 Now, that's some good advice. All right. Here's our next clip.

Speaker 9 00:06:45 My grandmother gave me a savings bond when I was a kid. I get, $25 in 1993, so that'll be good. Oh.

Speaker 2 00:06:54 Yeah. Adam Sandler in The Wedding Singer now it's supposed to be set in the 80s, came out in the mid 90s. So what have we learned from Adam Sandler's character? Robbie Hart, as it relates to the world of financial planning? Scott, what do you think?

Speaker 3 00:07:06 2022 was the worst year for bonds, according to, you know, Edward MacQuarrie, professor at Santa Clara University who studied these historic patterns. So, this is due to the fed raising interest rates. And so making sure that you understand exactly what your portfolio is doing and, how it's doing it and why it's doing it is kind of the, the cornerstone of your financial future with retirement.

Speaker 2 00:07:33 Yeah, absolutely. And yeah, I do believe my grandmother gave me a savings bond, too.

Speaker 2 00:07:38 I don't know what happened with it. All right. Here's our last clip. You know what I noticed?

Speaker 7 00:07:42 Nobody panics when things go according to plan.

Speaker 2 00:07:45 Yeah. There you go. the joker from the Dark Knight. Nope, not Jack Nicholson. It was, Heath ledger as the Joker. Boy, what a great performance he had in that movie. Now, what are your thoughts on this one? Nobody panics when things go according to plan.

Speaker 3 00:07:58 Plan? It's a four letter word, right, Gary?

Speaker 2 00:08:01 Oh, yeah.

Speaker 3 00:08:01 But good one. Planning can really help thwart many of the worries and concerns folks have about their finances, their financial future. Why plan? Well, it's expensive, you know, retirement is not cheap. You can have a plan in place for housing, health care expenses, long term short term planning. You got food taxes and leisure. So I just had a client who wanted to plan for vacations each year until they die. You know, they had no children. Their spouse had passed away.

Speaker 3 00:08:29 So whatever the course is, doesn't matter how, surface it is or how in-depth it is, you need to plan for it and make sure you're you're set up accordingly.

Speaker 2 00:08:39 Yeah. What a what a great segment. A lot of fun. A lot of great advice from you, Scott. What else you got for us?

Speaker 3 00:08:44 Listen, I'm passionate about my belief that you deserve a secure, independent retirement. That's why we keep a few openings on our calendar for listeners to sit down and get a no cost, no obligation consultation or second opinion review to help put you on that right path. This consultation will help you determine how to prepare your portfolio to handle dangers like inflation, stock market volatility, and taxation. You've worked hard for your money and will work just as hard to help you protect it and grow it. Keep in mind our strategies are often used with over 1 million saved for retirement, but we will not turn you away if you're serious about your retirement planning. So for the next ten callers who have 200,000 or more save for retirement, get the fact based approach that you deserve and get better answers to your financial challenges and objectives.

Speaker 3 00:09:33 And if you call right now, you also get a copy of our latest educational resource, five keys to a Successful Retirement. When You Come in. This report is invaluable and the knowledge inside could save you thousands in retirement.

Speaker 2 00:09:45 Now there's some great advice, Scott. We are proud to be shedding light on a number of topics we see folks struggling with, or maybe even being taken advantage of as they prepare for a move in retirement. You want to get that complimentary roadmap? We've been talking about it. Put it all together, all while you make sure you walk away from the conversation with clarity and understanding. It starts with the phone number and here it is 702420 2554 (702) 420-2554. Do it now while you're thinking about it or you go to their website. It's SG retired.com. Welcome back to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan. And here to help you take charge of your money is Scott Gross. Cause he's helped hundreds of clients achieve their financial retirement goals over the years.

Speaker 2 00:10:42 My goal is to get his website right in this segment. So, you know, we're going to be good. We're going to do the best we can. A little bit about Scott. Scott is a fiduciary, which means by law has to have the best interest of his clients. And that's a very important distinction when you're looking for a financial advisor and all the things you hear on the show each week are the things that Scott and his team will talk to you when you meet with him at SG. Financial tax minimisation strategies, long term care strategies, asset protection, wealth accumulation, all the things that are very important to you, our listeners. So thank you for joining us on a Sunday afternoon at KSNT News Radio. 840. All right. So you asked and answers. Time to bring the financial MythBusters into the mix. Clear up some misinformation and disinformation surrounding financial planning. All right, Scott, let's go through each of these and you can tell me what you think. They're myths or not.

Speaker 2 00:11:32 Myths. All right. Long term care insurance can be expensive. And it is. Use it or lose it. But it's the only game in town.

Speaker 3 00:11:40 Myth.

Speaker 2 00:11:41 Yeah.

Speaker 3 00:11:42 Yeah. Long term care insurance can actually be affordable. However, there are circumstances that can alter the cost of the policy. There are many variables to consider when selecting a plan, and the average LTC insurance premium costs for a 55 year old man in the US is about 2220 per year. So there's also alternatives to long term care insurance. But the reality is, is costs go up when we try to plan for this. Too late in retirement without a doubt.

Speaker 2 00:12:12 What are some of the alternatives that folks could go to. Scott.

Speaker 3 00:12:16 Yeah. So there's there's you know life insurance with a living benefit writer. That's one way. there's also what we call annuities that provide income. And they also provide benefits for home health care needs. When yo

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside Are you gonna treat your money right?

Speaker 2 00:00:36 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan. And here to help you take charge of your money is Scott Grosskreutz. Scott is with us every week at this time. Thank you for joining us, spending part of your Sunday afternoon with us, said KSNT News Radio 840 by the way, a little bit about Scott. He's a fiduciary, which means by law, he has to have the best interest of his clients. And the folks at SG financial handle everything and anything when it comes to your retirement. A lot of things you hear on the show, which a week like a wealth accumulation, asset protection, life insurance, long term care strategies, and so much more. So I'd like to welcome Scott.

Speaker 2 00:01:15 And how's the weekend going so far?

Speaker 3 00:01:16 Fantastic. How are you? Gary and all our radio listeners. Oh, we're doing great.

Speaker 2 00:01:20 We're ready to roll. I say this every week, but this is a really good show. So. So let's see if I can hold up to that by the end of the show. You, you listeners, you'll judge us. Okay, so here we go.

Speaker 3 00:01:30 I'm sure you'll do great.

Speaker 2 00:01:31 Absolutely. There are millions of searches online associated with the financial planning. Now, here's what we did. We decided to take matters in our own hands and create a list of the top questions being searched online regarding financial advisors. Yeah, we consulted, well, Google and DuckDuckGo. We just typed them in the search bar. And here are some of the things we came up with. I'm going to start with each one of them and then you can go through them for me, Scott, for our listeners and myself here, what is a financial advisor and what can a financial advisor do for me?

Speaker 3 00:01:59 Great question.

Speaker 3 00:02:00 There's so many designations. There's so many titles in this industry. A financial advisor really helps you create and grow your wealth and achieve financial independence. Financial advisors can help you build a plan for your financial future by utilizing a variety of financial tools to help you reach your desired outcome throughout your career and your retirement.

Speaker 2 00:02:21 Yeah, there's a there's a there's a and like you said, there's a wide variety of different advisors with different designations and different titles. So let's let's tackle this one. What financial advisors should I use?

Speaker 3 00:02:33 Oh yeah a fiduciary is important. It's a person or business with a legal obligation to behave in the best interest of your clients. essentially, fiduciary financial advisors are required to only recommend investments and other financial planning options and strategies that best suit the client and their financial well-being. So if you're in retirement or approaching retirement, you'll want to work with a retirement planner. I always say retirement planning is really important. One important point is that many of these clients we serve, currently, they realize that the next 30 years looks a lot different than the last 20 years that they've had in their life.

Speaker 3 00:03:11 So somebody can help them, transition to this new experience of retirement or better fulfill their retirement years. You know, what accounts to pull from it or with income. how to allocate your Social Security strategy. All of these things are really important, as you're in retirement. Yeah.

Speaker 2 00:03:29 And you want to look for somebody, we like to call it. I call it conflict free. Like nobody is breathing down your necks. Got to tell you what products to sell or push on your clients. And you know, that's what it means being a certified financial planner or like a series 65. When you see that designation, you know you're dealing with a true fiduciary. By the way, you can go to brokercheck.com and find out exactly what kind of licenses you're your advisor has, am I right? Is that the right place to go?

Speaker 3 00:03:57 That's a great place to go. Shows all those information, all that information for an advisor that helps you and your retirement. has tons of information regarding background in history. You can get a good picture of the type of person they are and what their specialty is.

Speaker 2 00:04:15 Yeah. Very good. Yeah. Definitely want to check that out. All right. We're moving through some of these here. So what do I do and what do I bring with me when meeting a financial advisor especially the first time? How does that how does that conversation go. And what do you need to bring.

Speaker 3 00:04:29 Well, if you have a partner, I would say be sure to invite them to come along. Yeah. It takes two to make a decision. And oftentimes it can be frustrating when you're having the same conversation twice, not just for you, but the financial advisor himself. And and sometimes goals are different. So you have to navigate those things. So both of you and the appointment is beneficial. It actually lengthens the process when only one spouse or one boyfriend or whatever your situation is. you both need to be involved. Really get a clear, comprehensive financial plan. Bring a pen, bring a piece of paper. Bring a notebook. Jot down any questions that you have. bring your most current statements, annuity statements, life insurance statements, pensions, any statements that you have from Social Security on options to claim all of these things.

Speaker 3 00:05:21 The more information, the better the plan. And oftentimes we end up guessing okay, well what is that annuity that you have or when did you write. We don't know. But the statement does everything. So bring those statements. You can often, you know, pull those up online if you have your username profile set up. If you don't you can call the company directly. They can email you a new statement. It's really easy just to get the current statements there.

Speaker 2 00:05:43 Yeah. Have you had any clients just empty a box of statements on your desk or those like accordion folders? I'm sure that's happened a few times, am I right?

Speaker 3 00:05:51 Right. And you know when and that's an opportunity where we prevent provide some value for our clients is, you know, you want your house in order, right? And if you can't collect your statements on your assets, how will your beneficiaries do that when you pass on? Right.

Speaker 2 00:06:07 Yeah.

Speaker 3 00:06:07 So we can give you recommendations on how to do this in a systemized way.

Speaker 3 00:06:12 So they're not going through old accounts that you already transferred out of there. You know, it shouldn't be a, you know, scavenger hunt for your for items to be, reviewed and evaluated once those life events do occur.

Speaker 2 00:06:29 Yeah, we just had Easter, so. Could Easter egg hunt? You don't want to do that. I want to take a moment, remind you the show is Scotty G's retirement radio. I'm Gary Nolan, your consumer advocate. With me each week at this time is Scott Gross. Chris, I want you to get on his calendar, get yourself all set up by that comprehensive plan, that holistic plan. Here's the good news. There's no cost to no obligations. So what are you waiting for? 702420 2554 702420 2554. Do it right now. Are you thinking about it? Okay, we're going through some things here. Online searches, top online searches. When you're looking for a financial advisor we've covered a bunch of them. Let's see a couple of minutes left. How? Here's a big one.

Speaker 2 00:07:08 How much should I pay to meet with a financial advisor?

Speaker 3 00:07:11 Oh, that's a really good one. you know, in the initial search process, you shouldn't be paying anything to sit down with an advisor. this is an opportunity, in essence, just to find out if you're a good fit. Some advisors only like to work with certain clients, and some potential clients only want to work with advisors that match, their strategy or kind of where they're at in life. And so really, this is just an opportunity just to find out what your goals and aspirations are. get to know each other. This is not a one time occurrence. Keep in mind that this is somebody that you're going to want to consult with at least once or twice a year. So this is a long commitment. And that's really what that first initial visit together. That's what it looks like.

Speaker 2 00:08:03 Yeah I mean you're setting up a relationship that I mean, you know, if you're just retiring or maybe you're not there yet. could last 20 or 30 years.

Speaker 2 00:08:10 So you want to make sure you have a right fit. It's like going to the doctor. You want to feel comfortable. Both sides have to feel comfortable with each other. And we can talk about this at some other points. Got running out of time in the first quarter. But mention these. We'll talk about the fees fee based commission and, fee and commission. It's real quick for me.

Speaker 3 00:08:27 Well, a lot of people get hung up on well, I don't want to do this or that because it's the, the, the, you know, the adviser gets paid upfront. Well, when you did your work, you generally got paid bi weekly. Right. And so it's the same type of concept where, you know, if I was to pay you a little bit, a little bit over time, then you probably want to work for that employer, right? So it's not about and it's not one is better than the other or vice versa in terms of whether it's a fee approach or whether it's compensation for services rendered.

Speaker 3 00:08:59 Where you're completing a life insurance application, you may get compensated on the front end for doing that application, which is why we talk about it's not about how the advisor's compensated for fiduciary responsibility. It's really what's right for the client and their strategy. And, if you do what's right, I'm a firm believer, Gary. You do what's right, then everything will take care of itself. Sure. And that's the approach we take with our clients.

Speaker 2 00:09:26 Yeah. And, you know, one thing is, complete transparency. And Scott is obligated to do that because of his fiduciary designation. So he's going to be totally upfront with you and transparent when it comes to fees, commissions and so on. All right. We're pretty much out of time in the first segment, but I want to have you give our listeners the opportunity. You can tell them what you'll do for them, Scott, when they come see you.

Speaker 3 00:09:47 Now's a good time to open up the phone lines. If you're one of those ten callers who have 200,000 saved.

Speaker 3 00:09:52 We've set some time aside on a carrier to meet with you. We can help you give some clarity surrounding one of the most vital issues of your financial life through a complimentary strategic planning session or a thorough second opinion review. Here's what you'll get. An analysis of your current investments with a financial advisor. This will include a fee analysis and a personalized, comprehensive, non-biased Morningstar report on your current situation, as well as recommendations on simple tweaks and changes that could be made to increase your chances of retirement income success. We'll also perform a tax analysis to reveal how you could possibly reduce your taxes. In addition, you'll get a personalized long term financial retirement income plan to help you reach your goals. Confidence is a powerful tool, especially when approaching retirement, so call in and get that complimentary strategic session or a thorough second opinion review. Keep in mind our strategies are often used by folks with over 1 million save for retirement, but we will not turn you away if you are serious about retirement planning and if you call right now, you'll also get a copy of our latest educational resource.

Speaker 3 00:10:55 Five keys to a Successful Retirement When You Come In. This report is invaluable in the knowledge inside could save you thousands in retirement.

Speaker 2 00:11:01 All right. This is why we want to give our listeners the opportunity to review their individual plans for retirement. Folks, you can find out if there's any potential red flags that could cause problems for you down the line with your current plan or advisor. Now we want to make this accessible. So we're offering this consultation at no cost or no obligation. Get started with the phone number. Here's what to do once these numbers in your phone. 702420 2554 (702) 420-2554. Do it right now while you're thinking about it or you go to their website. SG retired.com. Welcome back to the show. This is Scotty G's retirement radio. I'm Gary Nolan. Your consumer advocate with me is Scott Grosskreutz. He's with us every week at this time. He's from SG financial. Thanks for spending part of your Sunday afternoon with us. So good that you're here. a few things about Scott. And just in case you're joining us, Scott is a fiduciary.

Speaker 2 00:12:05 We talked about how important it is in the first segment, a very important distinction when you're looking for a financial advisor, because by law, he has to have the best interest of his clients. And when you go see Scott and his team at SG financial, you know, anything that's on your mind when it comes to retiring, they're going to cover it for you. Like we cover each week in the show, whether it's wealth accumulation, asset protection, long term care strategies, tax administrations, tax minimisation strategies, we could go on all day, but we wouldn't have time for the show. So let's let's dig into the show. Here's segment two. You know it used to be your

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside are you not? He'll treat your money right.

Speaker 2 00:00:34 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan. Here to help take charge of your money is Scott Grosskreutz. He's helped hundreds of clients achieve their financial goals over the years. I want to thank you for joining us Sunday afternoon on KSNT News Radio 840. And by the way, a little bit about Scott. He is a fiduciary, which by law has to have the best interests of his clients. A very important distinction when you're looking for a financial advisor and SG financials, Scott and his team, they handle pretty much everything and anything when it comes to your retirement, things that you're most important of important to you like a wealth accumulation, asset protection, long term care strategies, tax minimisation strategies, and so much more.

Speaker 2 00:01:18 Like the. Welcome Scott into the show. How's your weekend going so far Scott?

Speaker 3 00:01:22 Fantastic. All right. Good. How are you, Gary?

Speaker 2 00:01:25 I'm doing good. Good to have you on. I'd be interested. let me get into the show here. If if your clients are talking about ESG, which a lot of people haven't heard about, what it stands for is environmental, social and governance. And let's let's dig into that. What exactly does it mean, for folks and, for their financial, portfolios?

Speaker 3 00:01:46 Yes. It's not a, it's not a guitar, it's not an SG, it's a ESG. Right. So. Right. Yeah. This, this this whole 41K plan, these retirement plans where we look at, you know, your ability to invest and an ESG, is really it's a social governance plan, and it's based on political objectives and many details in regarding environment, social issues, governance and for one K plans, retirement plans. You have to watch out for some of these.

Speaker 3 00:02:21 I mean, based on political objectives and consequences. You know, roughly 152 million Americans with retirement plans have been affected by this. And Bloomberg explored all the nuts and bolts, and the financial implications of those who have been impacted and the difference between ESG retirement fund and a non ESG retirement fund, could impact your retirement. Globally, ESG funds have underperformed in the broad market in the past five years, returning an average of 6.3% a year, compared with an 8.9% broader fund. So, what does that mean? It means an investor puts 10,000 into the average. You know, global ESG fund in 2017 would have 13,000 $573,000. Today, that's nearly $1,720. It's a $20 less than those, funds that have been placed in non ESG portfolios. So it has to do with control of your assets. And I don't know about you Gary, but do you like somebody controlling the government controlling what you can invest in.

Speaker 2 00:03:30 No not not at all. The problem is though if this is this embedded in your 401 K, you really have, you can't do anything about it except maybe, you know, drop your 401 K.

Speaker 2 00:03:40 There's not a lot of alternatives. And also, is this a conflict with your fiduciary responsibilities as well?

Speaker 3 00:03:47 Absolutely. You know, if if you can't invest in the assets you want to and you have to invest in this, these ESG funds, you could be really, being underwater in your portfolio where you want to really attain based off your risk tolerance and your objectives and growth goals. So you have to be careful, you know, if your money is in the 401 K, you really are limited anyway, right? And they're trying to limit you already. So this is when it's really important to speak to a financial advisor who can move those funds over and have more freedom. And what you're able to do, and you're just limited on these four way for one K funds. And the ESG is one current example of that.

Speaker 2 00:04:27 Yeah. And maybe you can roll it into an IRA where you have much more control and certainly a lot more choices. I want to play a clip for you. Senator Ted Cruz joined Stuart Varney on Fox business to weigh in the impact of this decision for retirees.

Speaker 2 00:04:41 I'll get your comments on the other side.

Speaker 4 00:04:42 Do you want to talk about impacting folks at home? This is your retirement that Joe Biden has said his politics matters more than your retirement, and he's perfectly happy for you to take the hit. The Senate stood together with a bipartisan vote yesterday and reversed this and said, you ought to be able to save for your retirement without politicians impacting and hurting your savings.

Speaker 2 00:05:04 What do you think of Mr. Cruz's comments there, Senator Cruz?

Speaker 3 00:05:07 You know, the hands are on the dial. The hands are on the dial on many of these, these issues related to ESG funds. And, you know, in a capitalistic society. You know, when you when you buy an equity or when you buy a share of a company, you're buying ownership in that stock, in that equity. And if that company is an ESG part of that ESG, then the goals of that are just exactly what it says environmental, social and governance. It's not related to profitability directly to the shareholders.

Speaker 3 00:05:42 There's another motive there. So you really have to look at what do you want your assets to do. Do you have Based off your feeling and how you look at the markets, do you want to be investing in in companies where the causes not may not align with yours? Right. And and ultimately when you buy these equities you want growth, right. That's what you're doing. That's there's a sole purpose there. And diluting with other objectives can really impact you.

Speaker 2 00:06:12 So once again thank you for joining us. Little break here and remind you that this is Scotty G's retirement radio show. I'm Gary Nolan your consumer advocate with us each week at this time Scott Gross Chris, in case you're just joining us, Scott has helped hundreds of clients plan for their retirement years. He's a fiduciary, which by law has to have the best interest of his clients. You really need to get on this calendar, get yourself all set up with that comprehensive plan, that holistic plan, no cost or no obligations. So what are you waiting for? Here's that phone number 702420 2554 7024202554A phone lines open.

Speaker 2 00:06:48 Go play another clip for you. This is Marco Maven's. President Stephanie Pombo joined Fox News to discuss what to brace for a result of the economic storm that's on the horizon. Let's get her comments.

Speaker 5 00:07:00 And I think, honestly, what we're seeing here, Maria, is not just the banking sector issue. The everything bubble has now burst and that's going to hit, as you know, quote the movie everything everywhere all at once. So we're going to not have this just contained in the banking system. We're going to have corporate credit markets start to get a little dysfunctional, and municipal markets, everything is going to get hit by this delayed impact of the rate hikes. So I do expect the fed will have a dramatic U-turn in policy over the next few months as that happens.

Speaker 2 00:07:33 Yeah, we know it happened a couple of weeks ago with the latest rate hikes and a lot of gloom and doom there from from Stephanie, don't you think?

Speaker 3 00:07:42 Absolutely. And unless you're in a hole, you know what's going on.

Speaker 3 00:07:46 Yes. you know, this is systematic risk. Systematic risk will just about affect everyone in retirement in some shape or form, which is why it's really important. Don't consider your retirement plan as a checklist. You're checking off the boxes. You're it's done. You never have to have it revisited. You really have to revisit, your portfolio, your strategies during times like this. See if you need to make small tweaks along the way.

Speaker 2 00:08:14 Yeah. I mean, don't put your head in the sand, and that's for sure. And one thing you really need to do if you don't have one is to get a plan. Having a plan will isolate you, protect you from all the volatility out there. And that's what Scott and his team will do for you when you go see him. It's vitally important to have a plan. That's the place. First place you start. And, Scott, we're almost out of time. In this first segment, tell our friends and listeners what you'll do for them when they come see you.

Speaker 3 00:08:39 We keep a few openings on our calendar each week for listeners, and we'd love to hear from folks who have seen the recent market volatility and are concerned about it. We have the opportunity right now to sit down and have a conversation with Fiduciary Financial Advisor, who can guide you and possibly help improve your situation. Keep in mind our strategies are often used by folks with over 1 million saved for retirement, but we will not turn you away if you are serious about retirement planning. So for the next callers who have 200,000 save for retirement, we will perform a complimentary, easy to understand financial review of your portfolio. That review will indicate if you are in need of a comprehensive financial plan. This analysis is going to include a fee report and a risk assessment to help you recognize unnecessary losses in your portfolio, and see if you can simply just protect your retirement investment. You could experience dramatic growth potential. Second, we will perform a tax analysis to reveal how you could possibly reduce your taxes. We also develop a customized income plan utilizing proven strategies which could strengthen your retirement income and take the worry out of living in retirement.

Speaker 3 00:09:46 So for the next ten callers, that's a comprehensive financial review that we're providing to you, complimentary with no obligation. And if you call right now, you also get a copy of our latest educational resource. Five keys to a Successful Retirement. When You come in this report is invaluable, and the knowledge inside could save you thousands in retirement.

Speaker 2 00:10:04 That's some great advice, Scott. Here's that phone number. Get on this calendar. Get yourself all set up with that comprehensive plan. No cost or no obligation, you deserve a more confident plan to retire. You want to be stress free. You want peace of mind. Here's that phone number 702420 2554. Folks, it's advice like this just shows you how important it is to meet with a financial coach to meet with Scott. He understands the ins and outs of the financial world. Take advantage of this opportunity. Make sure you're on the right path, and the path is based on your risk preference, your budget, and your goals. Again, no cost, no obligation 702420 2554 what are you waiting for? Welcome back to the show.

Speaker 2 00:11:01 This is Scotty G's retirement radio. I am your consumer advocate, Gary Nolan. He is back with us to help us take charge of your money is Scott Grosskreutz. Scott has helped hundreds of clients achieve their financial goals over the years. He is with SG financial. One of the things about Scott, he is a fiduciary, which means by law he has to have the best interest of his clients and had to pass some very difficult tests. Am I right, Scott?

Speaker 3 00:11:25 Oh my goodness. To say the.

Speaker 2 00:11:27 Least, I hear that killer test. I could, you know, I, I could never I but anyway. Good for you Scott. But anyway. And really seriously, folks, it's a really important distinction when you're looking for a financial advisor because it is so important that you have someone looking out for you and that the interest of their their own, their company or, you know, no, you know, conflict free. I like to say, because nobody's breathing down Scott's neck. Tell you what products, has to push on you.

Speaker 2 00:11:54 That's very important. Anyway, Scott and his team specialize in wealth accumulation, asset protection, long term care strategies. All the things you hear each week on the show. So we're going to get into our second segment here and we're going to talk about red flags. Now I know enough to know that if if you're there where you are now, and if you take a trip out to Southern California and you're heading to the beach and you see the red flags, you know, don't go in the water because that's danger. That's risk. Okay, so here's our red flag number one. We got a bunch of these I love this one. There's no risk at all with this investment. Or there is too little or there is little to no risk with this investment. What do you think about that, Scott?

Speaker 3 00:12:35 Wow. Yeah.

Speaker 2 00:12:37 Wow, I was right.

Speaker 3 00:12:39 Yes. I remember, you know, growing up in Southern California when that red flag was up, you knew that you had some heavy riptides and yeah, the waves crashing.

Speaker 3 00:12:48 So you better have your fins on. Right. So that's right. but you know, when you're looking at risks in investing, there's a risk associated with all investing. All investing. You know, accessing your risk tolerance is imperative to ensure that you succeed in building your nest egg. People that think there's no risk at the bank, well, now people are concerned about the risks by putting their money in banks. And so things that we don't think are risky initially because maybe grandma or grandpa already did it. Of course, there's risk associated with that. But there's even the risk of not doing anything. So regardless of where you're at, it's important to look at, you know, what accounts you're in, what types of investments you're in, and kind of grading them in in terms of risk. Sometimes people have this artificial idea that one option they've they've created for i

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside are you not? He'll treat your money right.

Speaker 2 00:00:32 Hi there. Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan. And here to help take charge of your money is Scott Grosskreutz. Scott has helped hundreds of clients achieve their financial retirement goals. He's a fiduciary, which means by law, he has to have the best interest of his clients. And the folks at SG Financial and Scott handle pretty much everything when it comes to retirement tax minimisation strategies, long term care strategies, wealth accumulation, asset protection, and so much more. So thank you for joining us on NewsRadio 840 on your Sunday afternoon. Let's check in with Scott. How are you doing? How's your weekend going so far?

Speaker 3 00:01:09 Great. Hello, Gary. Hello radio listeners out there.

Speaker 2 00:01:12 All right. After this, it's it's like, you know, it's like it's going to be Miller time soon, right? Yeah.

Speaker 3 00:01:18 We're coming up on on that.

Speaker 2 00:01:19 They're absolutely. All right. We're going to we're going to end the day on a Sunday afternoon on a good note. We got a truck full of great information for you. So as we drive down the road to retirement, maximizing our savings and continue to grow, the nest egg is always on our mind. We have some places where you can stash your savings with offering some guaranteed growth. I love the word stash. Reminds me of those old, movies from the 40s and 50s. Hey, look where you stashed the cash, you know? So we're going to find a way to tell you where to stash the cast.

Speaker 3 00:01:46 You have to be careful. That word stash. Nowadays, though, I can have a lot of different meanings, doesn't it?

Speaker 2 00:01:50 Absolutely. Cash, you got to be careful. All right, let's start with a favorite of mine.

Speaker 2 00:01:54 And I bet yours too. Fixed annuities. What about those?

Speaker 3 00:01:57 Well, I usually ask people, you know, do you know what an annuity is? And do you know what you have? And rarely people know exactly what they have or they understand them and they can't really explain what they are, what they do, what the purpose is. Sure. And so I always tell people a fixed annuity is one of the most secure investments you can make. It's actually not an investment. That's a big misconception. And so annuities are actually contracts between you and the insurance company. And they provide guaranteed income, among other benefits, on these contracts, which no other financial product can match. Annuities are similar to private pensions. In order to fund an annuity, you pay premiums as long as you have, left the money alone. Fixed annuities will really, you know, they'll never drop below the initial amount you contributed. We call this safety of principle. People will tell me, they say, Gary. you know Scott.

Speaker 3 00:02:58 They'll say, Scott, why don't why don't I, why why do I need an annuity? Should I look at annuity? Should I move my money out of the out of the market? What? Why why is it important? Why is it part of my plan? Is it not part of my plan? And so there's an acronym. And if Rei listeners are buy a pen and a piece of paper, write this down, it's pills. P is, you know, safety of principle. So if you want an account that has safety prints for principle that never goes backwards, what you put in is what you get out. Right. That's one benefit to annuity I is income. If you need additional income or maybe income down the road. You look at inflation, the cost of living, all these things. You have your Social Security for that, but it only goes so far. So if you're looking for income, that's another reason. And then the next one is legacy. Okay. If you want to transfer the that asset in that account, that annuity contract in many states it bypasses probate.

Speaker 3 00:03:59 That's such a great benefit. And the next L is long term care home health care benefits. There's many annuity contracts that offer some of these provisions that give you extra dollars for every dollar you put in that provides you home health care benefits. You know, 75% over the age of 65 will need some type of home health care. And, when you look at these, this inevitable issue, it's a great way to have extra income provide that benefit. And then the last one is S. And that's called sequence of return risk. That means that you don't have to worry about the ebbs and flows of the market. That that never goes backwards. It only goes forward at a reasonable rate of return. I kind of liken it to, you know, Gary, you've ever been on a cruise ship?

Speaker 2 00:04:49 no, but my wife has, and she loved it.

Speaker 3 00:04:52 Well, you know, when the waves start crashing and it starts rocking the boat. Don't rock the boat, you know. What's that song? Hold on, hold on.

Speaker 3 00:04:59 You're rocking the boat. Yeah, yeah. Most people in retirement don't want that boat rocking. Okay? They may want to go to the bar and grill and go listen to a band rocking, but they certainly don't want their assets rocking. And if that's the case, you're probably an annuity type of very conservative, person that needs something like a solution like this. And so, you know, these big cruise ships, they have these stabilizers on each side of the boat. Yeah. So you're not having the rocking of what the tides and ebbs and flows of the market conditions. It it keeps you smooth sailing and I, I call annuities one of the best benefits of them is it reduces the wiggles on your retirement portfolio. If not eliminates the wiggles down. Right. Yeah. zero becomes your hero where the markets, you know, go down ten, 12, 20%, 15%. Whatever it is, your principle stays the same and then it resets for another period. So so the many benefits of annuities.

Speaker 3 00:05:53 Now I don't recommend sometimes, you know, you may want to put a large portion in your your retirement portfolio. And then you may want to do a small portion. People have this misconception. They have to dump everything in the annuity. Right? Yeah. That's probably not the best strategy. But working with some financial fiduciary such as SG financial, we can really nail that down for you and find out, where is the sweet spot to reduce those wiggles in retirement.

Speaker 2 00:06:17 So once again, thank you for joining us. A little break here and remind you that this is Scotty G's retirement radio show. I'm Gary Nolan, your consumer advocate with us each week at this time, Scott Gross. Chris, in case you're just joining us, Scott has helped hundreds of clients plan for their retirement years. He's a fiduciary, which by law has to have the best interest of his clients. You really need to get on this calendar, get yourself all set up with that comprehensive plan, that holistic plan, no cost or no obligation.

Speaker 2 00:06:42 So what are you waiting for? Here's that phone number 702420 2554 (702) 420-2554. Or you can reach out or you can go to his website. SG retired.com I love your cruise ship analogy. I will tell you I was on a ferry once, going from, across Long Island Sound from Connecticut to Long Island and it was rocking that day. I got sick as a dog, so I kind of stay away from boats now. Not good for me, right?

Speaker 3 00:07:12 And you know what? When I meet, with my my potential clients in my office. Sometimes they are feeling sick as a dog. I just looked at one client's portfolio and they had several bonds. And you know, they've lost 50%, right? And so, you know, even in bonds, you would think that they're you got to keep them to their duration. But, you know, it can be it can make you sick, just like, you're in the boat there with the rocking waves on the ferry.

Speaker 2 00:07:41 It's not good. All right, so let's talk about.

Speaker 2 00:07:43 Okay, also your retirement account. It's a place for some of your your stash, your cash, I guess.

Speaker 3 00:07:50 Absolutely. You know, a retirement account offers tax breaks and the potential to earn a lot more than a savings account. So you should consider it for your savings. investments in taxable brokerage accounts, retirement account funds can be invested. short term volatility may result from this, though, your investments are, you know, really likely to gain value in the long term, as I've mentioned before in previous shows. But the 41K plan offered by your company is a good place to start. It won't get you through the finish line necessarily, so you will have to make some changes, maybe roll it over to the IRA. contributions for 2023 are 22,500 to your 41K 403 B and other investment plans. And employees with 50 and older, 50 and older has increased to 7500. So IRAs can also be used if your employer does not offer a 401 K. And that's a lot of things that people don't realize.

Speaker 3 00:08:49 You know, they say, well, my employer doesn't offer this. My employee employer doesn't offer that. Really. Looking at your retirement plan, you do have other options that you can, set up yourself within a financial advisor. so there's a lot there. IRA contribution limits have increased in 2023, which is great news to 6500. And there's a little bit of a catch up there of 7500 if age 50 or older. So there's great, options for you out there for those that really want to prepare for their retirement.

Speaker 2 00:09:20 All right, just about a minute left in the in the segment. Scott, tell us about Roth IRAs for a moment.

Speaker 3 00:09:26 You know, Roth IRAs can be funded in several ways. They can be funded through regular contributions, spousal IRA contributions, transfers. They can be done rollover contributions, conversions. There's so much out there. So, you know, consult with, retirement professionals such as SG financial. We can really lead you in the right direction.

Speaker 2 00:09:44 Yeah. And that comes to that.

Speaker 2 00:09:45 That's why you need to speak to Scott and his team at SG financial. You know during the show we're always up against the clock. Unfortunately we could go on for hours and hours, but they won't let us do that. We're locked in for an hour. So that's why you need to get a hold of Scott and his team at SG financial. Scott, tell our friends and listeners what you'll do for them when you come see them.

Speaker 3 00:10:04 You know, investments have an impact on taxes, and taxes have an impact on investments. Managing one without a view of the other means you could be paying too much. So for the next ten callers who have 200,000 or more save for retirement, we've set aside some openings on our calendar for listeners. Go ahead and call in and take advantage of a complimentary second opinion or financial consultation with an experienced team. Our approach can help make a difference for you and your family by looking at your unique situation and recommendations tailored to those specific needs. By doing this, we can properly rebalance your portfolio between risky and safe investments, help you avoid costly tax mistakes that you may have.

Speaker 3 00:10:46 help you maximize Social Security and so much more. So call now and get on that schedule for this no cost offer made available to our listeners, with 200,000 saved for retirement. Keep in mind our strategies are often used by folks with over 1 million save for retirement. But we will not turn you away if you're serious about retirement planning and if you call it right now, you also get a copy of our latest educational resource, Five Keys to a Successful Retirement. When You come in. Your report is invaluable and the knowledge inside could save you thousands in retirement.

Speaker 2 00:11:17 That's some great advice, Scott. Here's that phone number. Get on this calendar. Get yourself all set up with that comprehensive plan. No cost or no obligation, you deserve a more confident plan to retire. You want to be stress free. You want peace of mind. Here's that phone number 702420 2554. Folks, it's advice like this just shows you how important it is to meet with a financial coach to meet with Scott. He understands the ins and outs of the financial world.

Speaker 2 00:11:41 Take advantage of this opportunity. Make sure you're on the right path, and the path is based on your risk preference, your budget, and your goals. Again, no cost, no obligation. 702420 2554 what are you waiting for? Welcome back to the show. This is Scotty G's retirement radio. I'm Gary Nolan. You're a consumer advocate. With me is Scott Gross. Chris Scott is with SG financial. Thank you for joining us Sunday afternoon on NewsRadio. 8:40 a.m.. And I want to tell you a little bit about Scott. This is what our second show, third show, I don't know I lost track. We're doing great. I do know that.

Speaker 3 00:12:32 We're rolling quite along, aren't we.

Speaker 2 00:12:34 Gary? We certainly are. Scott is a fiduciary, which is a very important distinction. When you're looking for a financial advisor, it means he has to have the best interest of his clients. And, you know, that makes him stand out in his field. Scott standing in the field. No, he's he's outstanding in his field.

Speaker 2 00:12:48 Not standing in the field. okay. Wealth of wealth accumulation, asset protection, life insurance, long term care strategies. What's that? That's everything that SG financial does and Scott handles. There are experts at that okay. We're going to get into the second segment of the show now. the first segment we were driving. Now we're parking. So parking your retirement money can be a challenge. One thing is certain, there are definitely some places you really shouldn't put your mon

Speaker 1 00:00:00 Three.

Speaker UU 00:00:01 Two. One. You're on Scotty G's retirement radio show where you get all the best advice. Hey hey hey, hey. Yeah, he'll be waiting on your call today. He'll put you financial goals inside Are you gonna treat your money right?

Speaker 2 00:00:36 Welcome to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan, here to help you take charge of your money is Scott Grosskreutz. Scott has helped hundreds of clients achieve their financial retirement goals. This is week two. So glad to be with you. Glad you're here. A little bit about Scott. He's with SG financial. He's a fiduciary, which means by law has to have the best interests of his clients. And Scott and his team at SG financial specialize in tax minimisation strategies, long term care strategies, life insurance, asset protection, wealth accumulation all the things you're going to hear each week on the show. And we hope that you'll learn a lot and have a little fun along the way. All right, so you know, Scott, hi.

Speaker 2 00:01:17 How are you doing today? First welcome.

Speaker 3 00:01:20 Great to chat with you today, Gary.

Speaker 2 00:01:22 All right. Great to have you with me on your show on a Sunday afternoon. Thank you for spending part of your weekend with us. All right. So I was thinking about this, you know, unless you're unless you live under a rock, or maybe you're out in a cabin in Montana with no internet. We pretty much know that there was an issue with the Silicon Valley bank, so. Oh, yeah. Big issue. So, you know, while a lot of our listeners know about it, but maybe they don't quite get it. So run that down for me in a in a nutshell, if you don't mind, Scott.

Speaker 3 00:01:50 Really. So, you know, here's what happened. The news of the Silicon Valley banking failure really sent many depositors into a tailspin. And as folks began panicking and withdrawing their money in an effort to protect their portfolios, you know, we see a lot of volatility.

Speaker 3 00:02:05 This created really a bank run in conjunction with the lack of diversification. And the banks had to sell more assets at further losses, creating even more issues internally.

Speaker 2 00:02:17 Yeah. So you know, obviously a lot went on. A lot of people are confused about this. You know, you're familiar with the movie we all are with It's a Wonderful Life and really called to mind the, the banking, failure there. And, you know, the run on the bank is what? Here's a clip from It's a Wonderful Life.

Speaker 4 00:02:32 I got $242 in here, and $242 isn't going to break anybody. Okay, Tom. All right, here you are. You sign this, you get your money in 60 days. 60 days. Well, that's what you agreed to when you bought your shares. Old man Potter will pay $0.50 on the dollar for every share you got. Yes. Cash. Oh, Tom, you have to stick to your original agreement. Now, give us 60 days on. Are you going to Potter's? Better to get half than nothing.

Speaker 4 00:02:55 Yea

Speaker 2 00:02:56 Don't go to Potters. You know, it's like, you know, Scott, it's. You know, we have this old misconception that every dollar the bank has is sitting back in the vault. And obviously we know that's that's not true. And part of the movie to me that I remember the most was with Donna Reed and Jimmy Stewart sit in the back of the car and the cab driver says, I don't know, it looks like a run on the bank. And that's what it was, right? Yeah

Speaker 3 00:03:17 It really was. You know, we have a lot of depositors all in the same sector of the market that that was the other problem, right? You know, the diversification in terms of, you know, where the money's coming from, didn't happen with this particular bank. So, you know, how do we get here? You know, the thing to note here is the Federal Reserve and Department of Treasury and FDIC have come together, really to establish an emergency style banking solution, really to calm the nerves of Americans, you know, making a statement that their funds would be accessible even if they had deposits above the FDIC insurance.

Speaker 3 00:03:51 So, you know, that's kind of where they're at.

Speaker 2 00:03:53 Yeah. I want to play a clip for you and get your opinion on the other side of this. This is Piper Sandler, chief economist Michael Kravitz. He joined CNBC's Power Lunch to weigh in on what to brace for following the ordeal and the Fed's rate plan going forward. Here's what he had to say.

Speaker 5 00:04:09 The lagged effects of all of these policy tightening from central banks, from commercial banks and from inflation create the conditions for problems to happen. And so I think, you know, this is one of several problems that we're going to be seeing down the road. Most of these are due to higher interest rates. Historically problems arise. The big problems arise when job losses occur, which unfortunately is a typical byproduct of the lagged impact of higher rates. So, you know, our message to investors has been for quite some time now to be quite defensive and conservative, and that we still believe we're in a bear market. And investors shouldn't get too complacent on this idea that the economy is anywhere near recovering on a global basis.

Speaker 2 00:04:47 What are your thoughts on that, Scott?

Speaker 3 00:04:48 Well, the economy is is not anywhere near of recovering on a global basis. You know, it's times like these where you really have to look at your retirement plan, take charge of it, and it it may expose you. You look at most of your assets. They may be in the bank. And you know what the banks are doing right now with those assets. They're using them for mortgages. And they're, you know, so they're doing a variety of different things with your money. And you want to make sure that that money is working for you, not necessarily working for the bank. There's there's reasons to have those assets in the bank, but you want to make sure that you're under those FDIC insurance limits, the 250,000 per depositor, per institution, per ownership category. So you don't have those risks coming to you in retirement of loss.

Speaker 2 00:05:39 Also, it's interesting, Scott, we know that, you know, money sitting in the bank as we call lazy money.

Speaker 2 00:05:43 It's really not doing much for you. Very low interest, if anything at all. And we know we talk about an emergency fund, but above and beyond that, that money maybe is not right to be in the bank, am I right

Speaker 3 00:05:56 You have to check, really, and confirm that all your accounts meet those limitations set by the aforementioned FDIC insurance limit. this will indicate whether you're not you're completely covered by FDIC insurance. Many people believe that these accounts, be only 250,000. You just have to really look at most people may consider these accounts for their emergency fund. Well, if you have that much money in your emergency fund, you may want to consider better asset allocation with your retirement portfolio.

Speaker 2 00:06:26 So once again, thank you for joining us. A little break here and remind you that this is Scotty G's retirement radio show. I'm Gary Nolan your consumer advocate with us each week at this time Scott Gross. Chris, in case you're just joining us, Scott has helped hundreds of clients plan for their retirement years.

Speaker 2 00:06:41 He's a fiduciary, which by law has to have the best interest of his clients. You really need to get on this calendar, get yourself all set up with that comprehensive plan, that holistic plan, no cost or no obligation. So what are you waiting for? Here's that phone number 702420 2554 (702) 420-2554. Or you can reach out or you can go to his website SG retired.com. All right. So we talked about you know the deposits are insured and so on. Let's talk about you know let's jump ahead a little bit Scott Cash does not equate to an investment strategy. I mean, you know, you don't want it under the mattress. You know a whole coffee cans in the backyard doesn't do anything for you. Hammer. Right.

Speaker 3 00:07:24 Absolutely. It's important to keep in mind that cash in the bank is really not an investment strategy. And of itself, well, cash certainly is one element to a comprehensive financial strategy. There is a cost to liquidity and your overall financial plan consists should consist of an investments, asset allocation, diversification and a myriad of other financial tools.

Speaker 3 00:07:49 So if you do not have a long term financial plan in place, the recent financial headlines might have brought on fear or concern or maybe even panic. Right? So it's important to understand that some of these strategies, have been used since the Roman times to provide safe, retirement strategies to people. And taking part in those type of strategies can really help you in your retirement forecast. All right.

Speaker 2 00:08:16 So so what about now? What do we do now?

Speaker 3 00:08:19 Well, certainly isn't a bad strategy to seek out a financial advisor about your current investments. You should really, shouldn't feel pressured by the recent headlines. Don't make rash decisions. to reconfigure your retirement plan. Investment strategy and allocation is really important for your plan. It needs to be revisited. And people look at it as like a checklist. Oh, it's done, it's done, it's done. And then never revisit. Times change and it's not working for them. So it needs to be done on a repeated basis. Revisit it at least once or twice a year with your advisor.

Speaker 2 00:08:53 All right. There's some other things to cover. And like liquidity, time horizon, risk. And let's just jump to the bottom line. We only have a few seconds left in this segment here, Scott.

Speaker 3 00:09:03 Well, really we have to make sure that we have liquidity. considered and our, our retirement plan. We want to look at time horizon. You know, that's the amount of time investments will be held before they're actually needed back for the benefits and retirement, your risk tolerance. And then really the bottom line is we have this bank crisis. And it truly reinforces the lesson that you never put all your eggs in one basket with retirement planning.

Speaker 2 00:09:25 Yeah. Like and you need a plan. Get a plan. And you know, one of the things you're going to find out is you listen to the show each week. You know, Scott is going to give you great information and we hope it's really helpful. But one of the things you can't do on the radio is dig into these issues as much as you'd like.

Speaker 2 00:09:39 And when you call Scott and get Ahold of his team at SG financial, they'll take as much time with you as you want. So you know, what they do is what I like to call knowledge transfer. You get that too. And it's got tell our friends and listeners what else you do for them when they come see you.

Speaker 3 00:09:53 Listen, I'm very passionate about my belief that you deserve a secure, independent retirement, and that's why we keep a few openings on our calendar for listeners to sit down and get a no cost, no obligation consultation or second opinion review to help you put yourself on that retirement path. This consultation will help you determine how to prepare your portfolio and the right way to handle dangers like inflation, stock market volatility and taxation. Keep in mind our strategies are often used by folks with over 1 million saved for retirement. But we will not turn you away if you're serious about your retirement planning. So for the next ten callers who have 200,000 or more save for retirement, get the fact based approach that you deserve and get better answers to your retirement, financial challenges and objectives.

Speaker 3 00:10:39 And if you call right now, you also get a copy of our latest educational resource, five keys to a Successful Retirement. When You come in, this report is invaluable and the knowledge inside could save you thousands in retirement.

Speaker 2 00:10:51 That's great advice, Scott. Here's that phone number. 702420 2554 folks, no cost, no obligation to get a better handle on your financial situation. Find out what your investments are really costing you because of high fees or commissions, what future tax implications will be, and how much income you can securely generate from that. Once you do move into retirement, all starts by picking up the phone and punching those numbers in. 702420 2554 (702) 420-2554. Welcome back to the show. This is Scotty G's retirement radio. I'm your consumer advocate, Gary Nolan, and he's back with us to help us take charge of your money is Scott Grosskreutz. Scott has helped hundreds of clients achieve their financial retirement goals. Week two. You're going to be with us each week at this time on 880 K and XT.

Speaker 2 00:11:55 Thanks for spending part of your weekend and your Sunday afternoon with us. All right, so let me get into a couple of things here for oh, I want to mention this before I forget how important it is. Scott and his is a fiduciary, which means by law, he has to have the best interest of his clients. Very important distinction. When you're looking for a financial advisor. And they specialize in wealth accumulation, asset protection and all the things you hear, or you're going to be hear each week on the show. All right. So we're going to dig into some of the biggest regrets people make going into retirement. I'm a little older, so I do remember vaguely remember this song from Frank Sinatra, My Way, where he says he starts out with regrets. I've had a few, so we all have a few regrets. Scott. But here's a big one not planning ahead on retirement plan. Plan. That's a good four letter word. Not a bad one, am I right?

Speaker 3 00:12:43 Being here in Vegas, a man after my own heart here.

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